Arctos Partners, LP, a Delaware limited partnership, is a private equity adviser largely focused on the professional sports industry and sports franchise owners, as well as liquidity, working capital and financing solutions to alternative asset managers, funds and portfolio assets of funds (“Investment Partners”). Based in Dallas with additional offices in New York and London, certain of the Adviser’s clients primarily acquire passive minority stakes in professional sports franchises and provide customized liquidity and passive growth capital solutions to sports franchise control owners and governors, while other clients focus on offering capital, financing and liquidity solutions to Investment Partners. In addition, the Adviser will also seek to use a portion of certain clients’ capital to make direct or indirect investments in other sports-, media- and live entertainment-related opportunities across the broader sports ecosystem. The Adviser commenced operations in September 2019. The Adviser’s clients include private investment funds (together with any affiliated parallel vehicles or feeder vehicles, each, a “Fund,” collectively with any future private investment fund to which the Adviser and/or its affiliates provide investment advisory services, the “Funds”). In addition, unless the context otherwise requires, references to Funds include references to co- investment vehicles (“Co-Investment Funds”) that are established to invest alongside another Fund, including Co-Investment Funds managed on both a discretionary and non-discretionary basis, and including Syndicated Co-Investments (as defined below) that purchase portfolio investments from the Funds. Each Fund is affiliated with a general partner entity or equivalent governing entity that is affiliated with the Adviser (each, a “General Partner” and collectively, together with any future affiliated general partner entities, the “General Partners,” and together with Arctos and their affiliated entities, the “Adviser” or the “Firm”) and has authority to make investment decisions on behalf of the Funds. Investors in the Funds do not participate in the control or management of the Funds. Each General Partner is subject to the Advisers Act pursuant to the Adviser’s registration in accordance with SEC guidance. This Brochure also describes the business practices of each General Partner, which operate as a single advisory business together with the Adviser. The Funds are private equity funds and either (i) invest primarily through negotiated transactions in non-control ownership stakes in professional sports franchises and other complementary and opportunistic investments across the broader sports ecosystem, or (ii) through minority, non-controlling preferred and/or structured equity positions in Investment Partners, collectively and generally referred to herein as “portfolio investments.” The Firm’s investment advisory services to the Funds consist of identifying and evaluating investment opportunities, negotiating the terms and designing the structural features of investments, managing and monitoring investments and

achieving dispositions for (and seeking interim distributable cash from) such investments. The Firm’s advisory services to the Funds are tailored to the investment objectives of each Fund; the Firm does not tailor investment advisory services to the individual needs of investors in each Fund. The Fund investment objectives are detailed in and governed by the applicable private placement memoranda or other offering documents (as amended, restated, supplemented or otherwise modified from time to time, each, a “Memorandum”), limited partnership or other operating agreements of the Funds (each, a “Partnership Agreement” and, as applicable, together with any relevant Memorandum, subscription agreements, investment advisory agreements, side letters and other constituent documents, the “Governing Documents”) and are further described below under “Methods of Analysis, Investment Strategies and Risk of Loss.” Investors in the Funds (generally referred to herein as “investors” or “limited partners”) participate in the overall investment program for the applicable Fund, but can, in certain cases, be excused from a particular investment due to legal, regulatory or other agreed-upon circumstances pursuant to the relevant Governing Documents. The Firm or the Funds have entered into side letters or other similar agreements (“Side Letters”) with certain investors that have the effect of establishing rights under, or altering or supplementing, the terms (including economic or other terms) of the relevant Governing Documents with respect to such investors. As referenced above, as permitted by the relevant Governing Documents, the Adviser provides (or agrees to provide) co-investment opportunities (including the opportunity to participate in a Co-Investment Fund) to certain current or prospective investors or other persons, including other sponsors, market participants, finders, consultants (as described further below), other service providers, portfolio investment management or personnel, the Adviser’s personnel and/or certain other persons associated with the Adviser and/or its affiliates. The Adviser expects that one or more investment vehicles managed or advised by the Adviser (excluding, for the avoidance of doubt, any future Fund) will co-invest in a portfolio investment (including in a follow-on investment) whereby such investment vehicle acquires a portfolio investment interest directly from a Fund on a date following such Fund’s corresponding investment in such portfolio investment (other than for legal, tax, regulatory, administrative, accounting or other similar reasons), which may occur months after a Fund’s initial investment (each, a “Syndicated Co- Investment”). The terms of Syndicated Co-Investments for certain Funds are discussed in greater detail below. As of March 29, 2024, the Firm managed $9,825,190,265 in regulatory assets under management. Of this amount, $9,005,593,426 was managed on a discretionary basis and $819,596,839 was managed on a non-discretionary basis. The Adviser is controlled and principally owned by Ian H. Charles.